Emerging Technology Adoption and Applications for Modern Society Towards Providing Smart Banking Solutions

1. Introduction To Emerging Technologies And Smart Banking

In today's fast-paced digital era, the banking industry is undergoing a profound transformation driven by the rapid advancement of emerging technologies (Li, Chen, & Wu, 2018; Huang & Rust, 2018). From artificial intelligence (AI) to blockchain and beyond, these technologies are reshaping traditional banking models and ushering in an era of smart banking solutions. The convergence of emerging technologies with banking has led to the creation of innovative services and enhanced customer experiences. Smart banking solutions use these technologies to provide customers with convenient, secure, and personalized financial services tailored to their individual needs and preferences. This introduction sets the stage for exploring the adoption and applications of emerging technologies in modern society, particularly in the realm of smart banking. By delving into the potential of these technologies and their impact on the banking landscape, we can gain insights into how they are revolutionizing the way financial services are delivered and consumed. Throughout this exploration, we will examine key technologies driving this transformation, such as AI, blockchain, Internet of Things (IoT), and biometrics (Gomber et al., 2018). We will also discuss how these technologies are being used by banks to enhance operational efficiency, mitigate risks, and foster greater financial inclusion. Moreover, we will address the challenges and opportunities associated with the integration of emerging technologies into banking systems, including regulatory issues, data privacy issues, and the evolving role of banking professionals in a digital-first environment.

Hence, by understanding the intersection of emerging technologies and smart banking, we can envision a future where banking services are not only technologically advanced but also more accessible, inclusive, and responsive to the needs of customers in an increasingly interconnected world. This exploration aims to shed light on the transformative potential of emerging technologies in shaping the future of banking and driving positive outcomes for individuals, businesses, and society as a whole.